Ethereum is currently fortifying at a point which is profitable for the bulls. Will there be a turn to decline?
Will the bears hold the advantage?
The fact that Ethereum has fortified at the level of $8.5 signifies that the bulls are holding the advantage. The $8.5 price is profitable for the bulls, but the graph clearly shows that the buyers are not taking advantage of that profit at the moment.
If this keeps up and a downward turn forms, the most probable scenario will be that of the medium-term trend heading down. If, however, the bulls do manage to make use of their advantage, there will be no turn and the upward trend will continue.
A formation of a downward structure at the level of $8.5 can lead to the beginning of a medium-term trend of decline.
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